There is lots of talk in the news industry about business models and the future of news. At a conference that I attended yesterday, Walt Mossberg of the Wall Street Journal and “D: All Things Digital” said the focus shouldn’t be on saving newspapers, but on saving quality journalism. I didn’t see Craig Newmark’s reaction (he, of Craigslist), but I’m sure he agrees, as his site has been accused of being a vital component of dwindling newspaper revenue since people can now list their classifieds for free rather then going to their local newspaper. Not to mention, of course, Google, the Associated Press and more.In thinking about a panel that I am sitting on this afternoon with Chris O’Brien of the San Jose Mercury News (and his side project Next Newsroom), Robert Scoble of Building43, Liz Gannes of NewTeeVee, and moderated by our friend (and CEO) at Text100, Aedhmar Hynes, I read this interesting Frank Rich article in the New York Times, “The American Press on Suicide Watch”…as well as this essay by Kathleen Deveny on “Reinventing Newsweek.” The essence (from my point of view) is that the business model of news is currently broken, but that quality journalism IS important and many bloggers, pundits and pontificators generally offer opinions on the news that is created by real newsrooms. Read More »
Video of Cisco CFO Frank Calderoni talking to Yahoo Tech Ticker’s Aaron Task about our Q309 earnings. Frank discusses our operational excellence in the quarter, what we’re hearing from customers and how we might use our $33.5B in cash.
We just announced Q3 earnings. From our press release:
“Cisco delivered solid financial performance despite a challenging global economy and period of evolving market dynamics,” said John Chambers, chairman and chief executive officer, Cisco. “These results demonstrate our ability to drive operational excellence and manage profitability across varying economic cycles. We will use this period of market transition to align and optimize resources, make strategic investments, move into market adjacencies and enhance relationships with our customers. As we exit the quarter with a compelling financial position and an innovation engine from both a products and business model perspective, we believe we are well positioned for the eventual economic recovery.”
Video commentary from Frank Calderoni, EVP and CFO
There is much interest on the tax deferral issue today. Here is our statement on this issue:
“Cisco would be adversely affected if tax deferral was eliminated by U.S. If rules are changed on tax deferral and we are taxed in the U.S. on non-U.S. profit, this significant additional U.S. tax cost would adversely impact our ability to invest and grow our business in the U.S. (R&D, capital investment, jobs, wages, etc.), and to compete against our foreign competitors who are not subject to this U.S .tax.”
If you are with the media and you have questions, you may contact me at jearnhar (at) cisco.com.
As a reminder, we announce our Q3 earnings this Wednesday after market close. More information on that here: http://www.cisco.com/go/investorsToday, we highlight our “wins” and news of the previous quarter, including new products, new acquisitions and customers. We also produced some short videos of our CTO, Padmasree Warrior (or @Padmasree for you Tweeters) talking about Unified Computing; and Ned Hooper, SVP, Corporate Development and Consumer Group talking about our 3 acquisitions this quarter and “build, buy, partner” strategy.Ned Hooper, SVP, Corporate Development and Consumer Group Read More »